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To: Shack who wrote (57985)	10/29/2002 6:12:52 PM
From: UnBelievable	Read Replies (1) \| Respond to of 209892

Where Did The Breakout Of The May DT Failure Reversal Occur I guess on an intraday basis it failed and then recovered today (INDU) but it looks like today is the fourth of the last five days where the stick broke that DT line. Today also was a lower high and a lower low, and the stick broke the 50 SMA for the first time since going above it. It doesn't seem that the correction we have had thus far of the October rally is sufficient for bulls or bears. For INDU a 38.2% retrace measures to 8025. Gapping down a fair part of that in the morning, go down to that point and then reversing up would seem to let you paint a nice candle and set the stage for up through the EOM and election day. Of course that is not going to happen since down is not allowed these days. But it does seem that the longer we continue to try to go up without a correction, the greater the risk that we are lower EOM and election day. But once again the Fed has the pumps wide open so who knows.